Lamar Advertising (NASDAQ:LAMR) Price Target Raised to $160.00

Lamar Advertising (NASDAQ:LAMR) had its price target increased by TD Cowen from $142.00 to $160.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the real estate investment trust’s stock.

A number of other equities research analysts have also issued reports on LAMR. Morgan Stanley boosted their price target on shares of Lamar Advertising from $125.00 to $135.00 and gave the company an “equal weight” rating in a report on Monday. Wells Fargo & Company began coverage on Lamar Advertising in a report on Thursday, September 19th. They issued an “equal weight” rating and a $132.00 target price for the company. JPMorgan Chase & Co. lifted their price target on Lamar Advertising from $117.00 to $121.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, StockNews.com raised Lamar Advertising from a “hold” rating to a “buy” rating in a research note on Friday, October 18th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $132.40.

Lamar Advertising Stock Down 0.5 %

LAMR stock opened at $128.25 on Monday. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.56 and a quick ratio of 0.41. The firm has a market cap of $13.12 billion, a PE ratio of 25.65 and a beta of 1.52. Lamar Advertising has a 12 month low of $94.71 and a 12 month high of $139.88. The firm has a 50 day simple moving average of $131.93 and a 200 day simple moving average of $123.19.

Lamar Advertising (NASDAQ:LAMR) last issued its earnings results on Friday, November 8th. The real estate investment trust reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.17 by ($0.73). Lamar Advertising had a return on equity of 42.58% and a net margin of 23.46%. The company had revenue of $564.10 million during the quarter, compared to analyst estimates of $568.91 million. During the same quarter in the previous year, the firm earned $2.04 earnings per share. The business’s revenue was up 4.0% compared to the same quarter last year. Equities research analysts forecast that Lamar Advertising will post 7.75 earnings per share for the current fiscal year.

Lamar Advertising Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Wednesday, September 18th were paid a $1.40 dividend. The ex-dividend date was Wednesday, September 18th. This represents a $5.60 dividend on an annualized basis and a yield of 4.37%. This is an increase from Lamar Advertising’s previous quarterly dividend of $1.30. Lamar Advertising’s payout ratio is 112.00%.

Institutional Investors Weigh In On Lamar Advertising

Several institutional investors have recently made changes to their positions in LAMR. Massachusetts Financial Services Co. MA raised its position in Lamar Advertising by 81.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 937,440 shares of the real estate investment trust’s stock valued at $112,052,000 after acquiring an additional 420,311 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Lamar Advertising in the 3rd quarter valued at $43,665,000. International Assets Investment Management LLC lifted its stake in shares of Lamar Advertising by 49,140.4% in the 3rd quarter. International Assets Investment Management LLC now owns 285,102 shares of the real estate investment trust’s stock valued at $38,090,000 after purchasing an additional 284,523 shares during the last quarter. Centersquare Investment Management LLC boosted its holdings in Lamar Advertising by 82.8% in the first quarter. Centersquare Investment Management LLC now owns 621,763 shares of the real estate investment trust’s stock worth $72,031,000 after purchasing an additional 281,582 shares in the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in Lamar Advertising by 148.9% during the third quarter. Daiwa Securities Group Inc. now owns 434,563 shares of the real estate investment trust’s stock valued at $58,058,000 after buying an additional 259,979 shares in the last quarter. 93.78% of the stock is currently owned by institutional investors and hedge funds.

About Lamar Advertising

Lamar Advertising Company operates as an outdoor advertising company in the United States and Canada. The company owns and operates billboards, logo signs, and transit advertising displays, as well as rents space for advertising on billboards, buses, shelters, benches, logo plates, and in airport terminals.